–Supports Bank Of Spain’s Efforts To Bolster Caja Sector
LONDON (MNI) – European Central Bank President Jean-Claude Trichet
said Thursday that banks had to restore their balance sheets and the ECB
supported the Bank of Spain’s efforts to bolster the troubled Caja
sector.
Speaking at a press conference following the ECB’s monthly
Governing Council meeting in Frankfurt, Trichet said:
“We rely [for] the Spanish banks very much on the Bank of Spain,
which has the responsibility of banking surveillance. The Bank of Spain
has always been impressively good in this respect. We support the Bank
of Spain in all its efforts.”
“The Governing Council is saying that [the banks] have to improve
their own balance sheets, to take responsibility to put aside their
capital. They have to embark on issuance of new shares and stocks and
[take advantage of] recapitalization efforts that have to be available
in the past,” he said. “We call on all countries themselves to put their
house in order.”
–London Newsroom: 00442078627492; email: ukeditorial@marketnews.com/
martin.degen@ntkn.com/william.wilkes@ntkn.com
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